If you’re like most folks, there’s a nagging fear at the edge of your brain that’s trying desperately to make sense of what’s happening each day the market drops further
The costs of nuclear accidents can be catastrophic, for generations. But there are also the routine costs after reactors are shut down, when decommissioning expenses pile up, for timeframes beyond human comprehension. True costs are unknown. Now, th…
The Federal Open Market Committee (FOMC) meeting minutes out today (Wednesday) confirmed that the Sept. 17-18 meeting involved more debate than before on whether or not to continue quantitative easing (QE).
U.S. President Barack Obama officially nominated Janet Yellen as the next Federal Reserve Chairman today (Wednesday).
Amid this preoccupation with numbers, however, one figure keeps getting overlooked: the U.S. trade deficit. Each of these indicators affects the economy in different ways.…
Janet Yellen as the Next Fed Chair: Today (Wednesday), U.S. President Barack Obama will nominate Federal Reserve Vice Chairwoman Janet Yellen to replace Ben Bernanke as the head of the U.S. central bank.
We’ve received a number of questions regarding the recent post on the trajectory of the US loan-to-deposit ratio (see post). Many are wondering how such fluctuations are even possible. That’s because the classic view in economics is that deposits …
It is being reported that the President will nominate Janet Yellen to be the next Chair of the Federal Reserve Board of Governors. Yellen was the obvious candidate all along, and it’s a very good thing that Obama’s earlier preference for Lawrence Summers, a key architect of the deregulated neoliberal regime of the 80’s and 90’s that helped bring us the financial collapse of 2008, was vigorously shot down by critics. The most important challenges for the next Fed chief will be in the area of financial system regulation, and despite the efforts by some of Summers’s closest friends and colleagues to give him a rush makeover as a born-again regulator, Summers was clearly not the right person for the job.
In its report on shadow banking, the New York Fed buried some nuggets: Hedge funds and banks are bailing out of the highest-risk “opaque” but now relatively low-yielding loans – low yielding thanks to the Fed’s repressive moneta…